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LONDON–(BUSINESS WIRE)–According to the latest market study released by Technavio, the global gyro camera market is expected to reach USD 4.73 billion by 2021, growing at a CAGR of more than 31%.

This research report titled ‘Global Gyro Camera Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. To calculate the market size, the report considers the revenue generated from the sales of gyro cameras and stabilizers or cameras that are bought separately.

Adventure tourism is one of the fastest-growing segments of the tourism industry. The global adventure tourism sector was worth more than USD 430 billion in 2016. More than 60% of the US population participated in outdoor sports activities in 2015. These outdoor sports activities include triathlon, adventure racing, freestyle skiing, climbing, trekking, snowboarding, and bicycling. Gyro cameras are used to capture these events with low distortion of the frame.

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Technavio’s media and entertainment analysts categorize the global gyro camera market into four major segments by commercial applications. They are:

  • Media and entertainment
  • Disaster management
  • Security and surveillance
  • Others

The top three commercial applications segments for the global gyro camera market are:

Global gyro camera market by media and entertainment

In 2016, the global gyro camera market by media and entertainment was valued at USD 210.06 million, and it is expected to grow at a CAGR of 38.34% to reach USD 1,064.23 million by 2021. Gyro cameras are widely used for photography and entertainment. Broadcasting companies are coming up with new ways to enhance the coverage of various events, especially sports events and wildlife. In addition, many companies are willing to adopt the latest technologies to improve movies, TV series, games, and advertisements.

According to Ujjwal Doshi, a lead media and entertainment services research analyst from Technavio, “In the media and entertainment sector, gyro cameras are primarily used for filming and aerial photography. They are used to take photos and shoot videos and films from all possible angles that would otherwise require multiple cameras.”

Global gyro camera market by disaster management

In 2016, the global gyro camera market by disaster management was valued at USD 32.33 million, and it is expected to grow at a CAGR of 49.16% to reach USD 238.73 million by 2021. Drones equipped with gyro cameras are being extensively used for the collection of information regarding natural or man-made disasters. The collected data is used by disaster management teams to organize search and rescue missions.

Advanced drone gyro cameras are equipped with thermal sensors and motion sensors that can be used efficiently during search and rescue missions. They are largely used for search operations conducted at night or in harsh terrains. A drone can be used for the delivery of medical supplies, food, and water,” says Ujjwal.

Global gyro camera market by security and surveillance

In 2016, the global gyro camera market by security and surveillance was valued at USD 28.05 million, and it is expected to grow at a CAGR of 51.74% to reach USD 225.64 million by 2021. Many companies worldwide are expected to use drone gyro cameras for surveillance purposes during the forecast period, as regulatory hurdles related to their deployment have been addressed. Technological advances are helping vendors to provide gyro camera-enabled surveillance and security systems.

Gyro cameras enabled with night vision sensors are likely to be put on security or military personnel. This is expected to provide high-quality photos and videos as there is limited screen rotation. There will be high demand for such systems from organizations that are working on megastructure projects.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Cheerson Hobby
  • DJI
  • GoPro
  • Gyro-Stabilized Systems
  • Parrot

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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